BOX (NYSE:BOX) PT Lowered to $30.00 at Morgan Stanley

BOX (NYSE:BOX) had its target price lowered by Morgan Stanley from $32.00 to $30.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the software maker’s stock.

Other analysts also recently issued reports about the stock. Citigroup increased their price target on shares of BOX from $29.00 to $32.00 and gave the stock a buy rating in a report on Wednesday, March 6th. StockNews.com upgraded shares of BOX from a buy rating to a strong-buy rating in a research report on Thursday, April 11th. JMP Securities restated a market outperform rating and set a $32.00 price objective on shares of BOX in a research report on Wednesday, March 20th. Royal Bank of Canada restated an underperform rating and set a $21.00 price objective on shares of BOX in a research report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of BOX from $31.00 to $32.00 and gave the stock an overweight rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, BOX currently has a consensus rating of Moderate Buy and an average target price of $30.33.

BOX Stock Performance

Shares of NYSE BOX opened at $27.25 on Wednesday. The company’s fifty day moving average price is $26.91 and its 200 day moving average price is $26.53. BOX has a 1 year low of $23.29 and a 1 year high of $31.94. The company has a market capitalization of $3.93 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 9.38 and a beta of 0.85.

BOX (NYSE:BOX) last announced its quarterly earnings results on Tuesday, March 5th. The software maker reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. BOX had a net margin of 13.13% and a negative return on equity of 11.71%. The firm had revenue of $262.88 million for the quarter, compared to the consensus estimate of $262.92 million. On average, equities analysts expect that BOX will post 0.15 EPS for the current year.

Insider Activity

In other news, CEO Aaron Levie sold 10,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $29.47, for a total value of $294,700.00. Following the completion of the sale, the chief executive officer now directly owns 3,048,653 shares in the company, valued at $89,843,803.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $26.08, for a total transaction of $339,040.00. Following the completion of the sale, the chief financial officer now directly owns 1,565,912 shares in the company, valued at $40,838,984.96. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $29.47, for a total transaction of $294,700.00. Following the sale, the chief executive officer now owns 3,048,653 shares of the company’s stock, valued at $89,843,803.91. The disclosure for this sale can be found here. Insiders sold 133,660 shares of company stock worth $3,774,134 over the last three months. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in BOX by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,207,010 shares of the software maker’s stock worth $56,523,000 after buying an additional 47,220 shares during the period. Rhumbline Advisers boosted its stake in BOX by 0.7% during the third quarter. Rhumbline Advisers now owns 205,861 shares of the software maker’s stock worth $4,984,000 after buying an additional 1,347 shares during the period. Burney Co. boosted its stake in BOX by 19.0% during the third quarter. Burney Co. now owns 296,958 shares of the software maker’s stock worth $7,189,000 after buying an additional 47,421 shares during the period. Earnest Partners LLC boosted its stake in BOX by 1.2% during the third quarter. Earnest Partners LLC now owns 6,132,385 shares of the software maker’s stock worth $148,465,000 after buying an additional 70,129 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in BOX by 10.3% during the fourth quarter. Russell Investments Group Ltd. now owns 492,333 shares of the software maker’s stock worth $12,619,000 after buying an additional 45,971 shares during the period. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Company Profile

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.